Monday, July 17. 2017

On July 17, 2017, EDGAR 17.2 was released by the Securities and Exchange Commission. This release contained changes that added new fields to a number of forms that designate whether a registrant is an Emerging Growth Company and to inform the SEC as to whether the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards. Other changes affect a number of forms, including Form D, Form CFPortal, Form 17HACON, and the exhibit document for Form ABS-EE.

– These fields are used to indicate if the registrant is an emerging growth company and if the registrant has elected not to use the extended transition period for complying with any new or revised accounting standards.

Changes to Form D

– The reference to Rule 505 has been removed.

– The Total Offering Amount in “Item 13: Offering and Sales Amounts” has been increased from a maximum of $1,000,000 to $5,000,000 if any “Rule 504” item is selected.

Changes to Form 17HACON

– Broker-dealers can now indicate whether the filing period is one full year or not.

– Form 17HACON will also require broker-dealers to attach an “ORGCHART” document to the submission even if the “No material changes have occurred since last filed” field has been selected.

Regulation Crowdfunding

– The maximum offering amount has been increased from $1,000,000 to $1,070,000.

Form ABS-EE

– The RMBS, 1(m)(21)(xi) postModificationARMPaymentRecastFrequency item has changed from decimal format to integer format, with a maximum length of eight digits.

– The maximum integer length increased from two digits to eight digits for the following Asset Class Items:

Item 1(c)(29)(iv), initialFixedRatePeriodHybridARMNumber

Item 1(c)(29)(xxi), HELOCDrawNumber

Item 1(m)(21)(iv), postModificationInterestResetNumber

Item 1(m)(21)(xx), postModificationARMInterestRateTeaserNumber

Item 1(m)(21)(xxi), postModificationARMPaymentTeaserNumber

Item 1(m)(22)(i), postModificationInterestOnlyTermNumber

Item 3(c)(9), originalInterestOnlyTermNumber

Item 3(c)(12), gracePeriodNumber

Item 3(j)(2), paymentExtendedNumber

Item 4(c)(8), gracePeriod

Item 4(j)(2), leaseExtended

Form X-17A-5

– A new Instructions menu icon was added to the filer interface for this form in the top-right corner. This menu provides instructions on how to file broker-dealer annual reports through EDGAR.

Form N-1A

– Filers can now register via submission form type N-1A using their existing Series and Classes (Contracts) without having to provide “dummy” new Series and Classes (Contracts)

Transfer Agent Forms

– Transfer Agent form submissions are limited to a maximum of 100 document attachments.

– The maximum size of a Transfer Agent submission, including all attached documents, may not exceed 200 MB.

XBRL

– EDGAR will no longer provide support for the US-GAAP-2015, EXCH-2015, CURRENCY- 2014, and COUNTRY-2013 taxonomies.

Additionally, the exhibit linking requirements for Forms S-1, S-3, S-4, S-8, S-11, F-1, F-3, F-4, F-10, SF-1, and SF-3 under the Securities Act; and Forms 10, 10-K, 10-Q, 8-K, 20-F, and 10-D under the Exchange Act will be effective September 1, 2017 for large accelerated and accelerated filers.

Version 4.19a of the GoFiler family addresses these changes to EDGAR. If you need to update your version of GoFiler, use the Check for Updates function within your software. For a full list of improvements that were made for Version 4.19a, read our release notes.